SMA Solar’s inverter shipments rebound in Q3 after COVID-19 hit

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
SMA Solar Technology reported a rebound in shipments and sales in the third quarter of 2020, driven by a demand recovery after its second quarter financials were hit by project slowdowns in Europe and the US, due to COVID-19. Image: SMA Solar

Major PV inverter manufacturer SMA Solar Technology reported a rebound in shipments and sales in the third quarter of 2020, driven by a recovery in demand after its Q2 financials were hit by project slowdowns in Europe and the US due to COVID-19.

Total PV inverter shipments had fallen to 2,738MW in the second quarter of 2020, after record shipments of 4,367MW in the previous quarter. Third quarter shipments were 3,456MW, driven by large-scale projects in the US and Europe, while residential and C&I markets were down slightly from the previous quarter. 

SMA Solar’s total inverter volume sales in the first nine months of 2020 were 10,651MW, up 42% from 7,494MW in the prior year period. 

The company reported third quarter 2020 sales of €260 million, compared to €268.1 million in the prior year quarter. Sales in the first nine months of 2020 were €774 million, up 23% from €631 million in the prior year period.

The company reported third quarter 2020 sales of €260 million, compared to €268.1 million in the corresponding period last year. Sales in the first nine months of 2020 were €774 million, up 23% from €631 million in the prior year. 

The company reported third quarter 2020 sales of €260 million, compared to €268.1 million in the prior year quarter.

Total EBITDA amounted to €41 million in the first nine months of 2020, compared to €26 million in the prior year period, a 61% increase.

Product order backlog at the end of the third quarter stood at €331.5 million, slightly up from €321 million in the previous quarter. This was the first quarter SMA Solar’s product order book had increased since the second quarter of 2019.

Product order backlog at the end of the third quarter stood at €331.5 million, slightly up from €321 million in the previous quarter.

SMA Solar’s CEO, Jürgen Reinert said, “The effects of the global coronavirus crisis have also posed major challenges to SMA over the past nine months. I am therefore all the more pleased that, in spite of the declining market, we generated significant growth in sales and earnings and thus gained market share.”

The company reiterated previous full-year revenue guidance to be in the range of €1.0 billion to €1.1 billion, indicating fourth quarter sales could be as high as €326 million, which could be a recent record quarter for the company. 

SMA Solar also guided full-year EBITDA to be in the range of €50 million to €80 million.

Read Next

December 1, 2021
Tech major Amazon has added a further 2GW to its committed utility-scale solar PV capacity, adding projects in the US and Europe to its renewables portfolio.
November 23, 2021
Renewables developers and O&M provider RES has appointed two new chief executives to lead on its growth plans.
November 17, 2021
Global solar PV installations are to growth 20% in 2022, surpassing the 200GWdc mark for the first time, despite high capex costs, according to a new report by the Clean Energy Technology service at IHS Markit
November 10, 2021
Solar inverter manufacturer SMA Solar Technology has increased its net income by more than 66% for the first nine months of the year compared with last year as its management board reaffirms its previously downwards adjusted sales and earnings guidance of for 2021
October 19, 2021
Lightsource bp has announced its entry into Poland’s solar market through a co-development deal which will see the developer proceed with a 757MWp pipeline in the country.
October 19, 2021
Europe's energy crisis can be a boon for renewables deployment on the continent by bolstering business cases, but familiar foes such as grid constraints will still need to be hurdled in the coming years.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 1, 2022
London, UK
Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal